Iranian oil revenues ‘drop 45%’ because of sanctions

BBC – Iranian oil revenues have fallen around 45% in the last nine months because of Western sanctions, a leading Iranian politician says. Gholam Reza Kateb, an MP on the national planning and budget committee, said the country’s economy as a whole was in trouble. In a further sign of the crisis, the oil ministry has stopped selling fuel to some airlines over unpaid bills. Oil exports account for a majority of the Islamic republic’s revenue. Mr Kateb said the steep export drop was revealed in a parliament report by Oil Minister Rostam Qasemi. Read Article

Source Article from http://openyoureyesnews.com/2013/01/09/iranian-oil-revenues-drop-45-because-of-sanctions/

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